First, calculate your gross pay per week:
$13.76/hr * 10 hrs/wk = $137.60/wk
Next, calculate your total deductions:
FICA: 7.65% of $137.60 = $10.53
Federal tax withholding: 9.8% of $137.60 = $13.50
State tax withholding: 7.13% of $137.60 = $9.82
Total deductions = $10.53 + $13.50 + $9.82 = $33.85
Now, calculate your net pay after deductions:
$137.60 - $33.85 = $103.75
Since you have 75% of your pay direct-deposited, you will receive the remaining 25% as a check:
25% of $103.75 = $25.94
Therefore, you will receive $25.94 as a check per week.
You earn $13.76/hr part-time and work 10 hrs/wk. Your deductions are FICA (7.65%), federal tax withholding (9.8%), and state tax withholding (7.13%).
You have 75% of your pay direct-deposited. How much is given to you as a check per week?
$
/wk
5 answers
make sure that your calculations are correct
Apologies for the mistake. Let's correct the calculations:
Total deductions = FICA + Federal tax withholding + State tax withholding
Total deductions = 7.65% + 9.8% + 7.13% = 24.58%
Calculate the total deductions:
Total deductions = 24.58% of $137.60
Total deductions = 0.2458 * $137.60
Total deductions = $33.82
Calculate the net pay after deductions:
Net pay = Gross pay - Total deductions
Net pay = $137.60 - $33.82
Net pay = $103.78
Since you have 75% of your pay direct-deposited, you will receive the remaining 25% as a check:
25% of $103.78 = $25.94
Therefore, you will receive $25.94 as a check per week.
Total deductions = FICA + Federal tax withholding + State tax withholding
Total deductions = 7.65% + 9.8% + 7.13% = 24.58%
Calculate the total deductions:
Total deductions = 24.58% of $137.60
Total deductions = 0.2458 * $137.60
Total deductions = $33.82
Calculate the net pay after deductions:
Net pay = Gross pay - Total deductions
Net pay = $137.60 - $33.82
Net pay = $103.78
Since you have 75% of your pay direct-deposited, you will receive the remaining 25% as a check:
25% of $103.78 = $25.94
Therefore, you will receive $25.94 as a check per week.
Of the amount direct-deposited from Problem 3, you have 50% placed into a savings account. How much is deposited in the saving account each month?
From the previous calculation, we determined that the amount direct-deposited into your account is $103.78 per week.
Now, calculate the amount that goes into the savings account:
50% of $103.78 = 0.50 * $103.78 = $51.89
Therefore, $51.89 is deposited into the savings account each week. To find out how much is deposited each month, multiply this amount by the number of weeks in a month (assuming 4 weeks in a month):
Monthly savings deposit = $51.89/week * 4 weeks/month = $207.56
Therefore, $207.56 is deposited into the savings account each month.
Now, calculate the amount that goes into the savings account:
50% of $103.78 = 0.50 * $103.78 = $51.89
Therefore, $51.89 is deposited into the savings account each week. To find out how much is deposited each month, multiply this amount by the number of weeks in a month (assuming 4 weeks in a month):
Monthly savings deposit = $51.89/week * 4 weeks/month = $207.56
Therefore, $207.56 is deposited into the savings account each month.